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31 July, 20:24

What are examples of current liability in accounting

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  1. 31 July, 23:49
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    Examples of current liabilities include:

    1. accounts payable

    2. taxes

    3. Interest payable

    4. Accrued expenses.

    Current liabilities are those expenses due within 12 months or less. All other liabilities are reported as long-term liabilities. For a business, they must have enough current assets (cash, sales) to cover current liabilities.
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